The Ministry of Environment, Forestry and Tourism says Namibia requires about N$255 billion to fully implement the Nationally Determined Contribution (NDC), a climate action plan to cut emissions and adapt to climate impacts.
Environment Minister Pohamba Shifeta said Namibia as a party to the Paris Agreement is required to establish an NDC, as part of the international treaty on climate change.
According to the government’s plans, N$108.4 billion (US$6 billion) has been allocated for adaptation and N$146.6 billion (US$9 billion) for mitigation.
“The total cost for implementing the NDC from 2021-2030 is US$15 billion which translates into N$255 billion. Namibia considers its NDC to be equitable, fair, and ambitious. It contributes to achieving the ultimate objective of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement,” Shifeta told parliament this week.
“Namibia is a Party to the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The purpose of these international treaties is to limit global warming to 1.5 Degrees Celsius above the pre-industrial levels through greenhouse gas emission reduction efforts whilst helping the most vulnerable countries to cope or adapt to the adverse impacts of climate change.”
He said Namibia had targeted to finalise the second updated NDC last month.
“The NDC is a living document and needs to be updated regularly to match the new decisions under the UNCCC processes and also new emerging technologies. 90% of the required funds to implement the NDC will be sourced from multilateral and bilateral sources and only 10 % of the funding will be sourced domestically,” the minister revealed.
Meanwhile, the Minister told Parliament that the Green Climate Fund (GCF) which was established to serve as an operating entity of the financial mechanism of the UNFCCC had provided funding for 16 grant projects valued at about N$77.7 million (US$4.3 million), which were completed and handed over to community-based organisations in nine political regions of the country.
He said other funding windows where Namibia can source funds include the Adaptation Fund (AF) and that Namibia has mobilised more than N$5 billion to implement various projects countrywide since 1992 when the Multilateral Environmental Agreements were established.
“Namibia is a net sink of carbons and is eligible to receive foreign funding for climate change in accordance with the UN Convention and Paris Agreement, developed countries must compensate Namibia for the damage caused by their historical emissions,” said Shifeta.
This comes as Shifeta had in February announced that Namibia requires N$112.3 billion to successfully address greenhouse emissions by 2030.
